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Sorting out taxes and reporting for a deceased employee

BMT Office Administration

While fortunately a rare circumstance, dealing with payroll for a recently deceased employee can be tricky. Hopefully this isn’t an issue that comes up for your payroll department often, but it’s important to know what to do, and get it right, in the event that it does happen. What pay is taxable?

Payroll 52
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1099 vs W-2: The difference between employees and contractors

BMT Office Administration

Is the worker treated as a supplemental resource to the business’ internal staff or are they working alongside them during similar hours and on similar projects? 1099 workers also are not generally paid through regular payroll and do not typically have taxes withheld from their checks or deposits. Medical and health care payments.

Payroll 52
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Income taxes explained in 7 simple concepts

BMT Office Administration

It’s all taxable income recognized by the Internal Revenue Code. Examples: employer contributions for health insurance and to retirement benefits. Total income is the broadest measure of income. It includes wages, salaries and tips; interest and dividends; capital gains; and pensions and annuities.

Filing 52